ECONOMIC CALENDAR:Monday: Janet Yellen Speaks 12:30 PM ET, Janet Yellen Speaks 2:00 PM ET Tuesday: Productivity and Costs Wednesday: JOLTS, EIA Petroleum Status Report Thursday: Jobless Claims Friday: Consumer Sentiment, Treasury Budget
- Motor vehicle sales slump in May. The latest data shows that fewer selling days and lower foot traffic hurt U.S. auto sales last month.
- Construction spending falls in April. Spending by construction firms on residential, government, and nonresidential projects declined, surprising economists who had expected a slight overall increase.
- Factory orders beat expectations. April orders for U.S. manufactured goods grew by the largest amount in six months, though much of the growth came from volatile commercial aircraft orders.
- Personal spending surges in April. Spending by American consumers grew more than expected while personal income increased in line with expectations, showing that consumer spending is off to a good start in the second quarter.
Quote Of The Week
“Generating creative work is not for the faint of heart.” – Julien Jarreau
Recipe Of The WeekPlum Upside-Down Cake img Get the most out of seasonal fruit with this simple cake. Serves 8 Ingredients: 1/2 cup (1 stick) plus 1 tablespoon unsalted butter. Save the wrapper to butter the pan. 4 firm, ripe plums, each cut into 8 wedges (No plums? Try peaches, apricots, or nectarines.) 1/4 cup plus 2/3 cup white sugar 1 cup all-purpose flour 3/4 teaspoon baking powder 1/4 teaspoon baking soda 1/4 teaspoon Kosher salt 1 large egg, room temperature 2/3 cup whole fat sour cream or whole milk yogurt 1 teaspoon pure vanilla extract Directions: Pre-heat your oven to 350° F. Grease an 8-inch cake pan with the butter wrapper or additional butter and line it with parchment paper. In a skillet, melt 1 tablespoon of the butter over medium heat and add the sliced plums and 1/4 cup sugar. Toss the fruit in the butter and cook 3 to 4 minutes until the plums soften and the juices become syrupy. Pour the fruit into the pan. Using a spoon or spatula, arrange the plums in overlapping circles on the bottom. Pour any remaining pan juice over the top. Whisk together the flour, baking powder, baking soda, and salt in a small bowl. Using a mixer, beat the remaining butter and sugar until whipped. Mix in the sour cream, egg, and vanilla until fully combined. Gradually add in the dry ingredients, beating the batter only until just incorporated. Pour the cake batter over the plums without disturbing the bottom layer of fruit. Bake the cake about 50 to 55 minutes until the center is done and a toothpick comes out clean (or with only a few crumbs). Allow the cake to cool in the pan for one hour before carefully inverting onto a large plate. Peel the parchment paper off carefully. Serve warm or at room temperature with vanilla ice cream or simple whipped cream. Recipe adapted from Sara Quessenberry | RealSimple.com
Tax TipsSummer Wedding? Remember These Tax Tips If you or someone you love is getting married this summer, keep these important tax issues in mind. Taking care of them now can help reduce your stress at tax time. Change names: IRS rules require that the names and Social Security numbers on your tax return match your Social Security Administration records. To formally change your name, file Form SS-5, “Application for a Social Security Card”, with the Social Security Administration. Change tax withholding: A marital status change means you must give your employer a new Form W-4, “Employee’s Withholding Allowance Certificate.” You should also meet with a tax professional to determine how your combined income affects your tax liabilities. Change filing status: If you’re married on or before December 31, you are married for the whole year for tax purposes. You and your spouse can choose to file your federal income tax return either jointly or separately each year. You may want to ask a tax professional to run the numbers to see which status results in the lowest tax liability. For more information about filing taxes as a newlywed, consult a tax professional in your area. Tip courtesy of IRS.gov
Golf TipDon’t Slouch! Many golfers overlook the importance of great posture and get too comfortable over the ball. Slouching and arching the back makes it very hard to make consistent shots because you’re not able to move athletically through the stroke. Ask a partner to watch your setup and make sure that you’re keeping your back straight (but not rigidly straight) and flexing your knees slightly at address. Tip courtesy of Doug Hammer, PGA | Golf Tips Mag
Healthy LifestyleAdd Some Peanut Butter to Your Diet While peanut butter isn’t a low-calorie food, it’s packed with protein, heart-healthy fats and minerals critical to bone density and blood pressure. If you’re looking for natural sources of potassium, magnesium, protein, and monounsaturated fats, try natural peanut butter without any added sugar, salt, or oil. Here are some easy ways to add peanut butter to your diet:
- Peanut butter with carrots and celery
- Savory Thai satay meat skewers
- Peanut butter smoothies
- Peanut butter oatmeal